M&A Deal Summary

KKR Acquires Refresco Gerber

On February 22, 2022, private equity firm KKR acquired beverage company Refresco Gerber from PAI Partners and British Columbia Investment Management

Acquisition Highlights
  • This is KKR’s 3rd transaction in the Beverages sector.
  • This is KKR’s 15th transaction in the Netherlands.

M&A Deal Summary

Date 2022-02-22
Target Refresco Gerber
Sector Beverages
Buyer(s) KKR
Sellers(s) PAI Partners
British Columbia Investment Management
Deal Type Secondary Buyout

Target

Refresco Gerber

Rotterdam, Netherlands
Refresco Gerber is a soft-drink company provides fruit juice and soft drinks for retail private labels and ‘in contract’ manufacturing for international A-brands. Refresco Gerber was founded in 1999 and is based in Rotterdam, Netherlands.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 423 of 483
Sector (Beverages) 3 of 3
Type (Secondary Buyout) 86 of 107
Country (Netherlands) 15 of 17
Year (2022) 2 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-16 Yuehai Feed

Zhanjiang City, China

Yuehai Feed is a manufacturer of Aquatic feed company in China focused on providing feed and nutrition solutions for shrimp and seawater fish farming. Yuehai Feed was formed in 1994 and is based in Zhanjiang City, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-10 +Simple

Marseille, France

+Simple provides self-employed professionals and SMEs with a digital insurance broker that simplifies the underwriting of business insurance. Its founding mission is to facilitate all insurance procedures for professionals by providing them with a one-stop shop, supported by its insurance partners. +Simple was founded in 2015 and is based in Marseille, France.

Buy -

Seller(S) 2

SELLER

PAI Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


DEAL STATS #
Overall 47 of 50
Sector (Beverages) 1 of 1
Type (Secondary Buyout) 24 of 25
Country (Netherlands) 4 of 4
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-22 Uvesco

Gipuzkoa, Spain

Uvesco is a food retail sector with a differentiated model based on a high-quality product offering. Uvesco was founded in 1993 and is headquartered in Guipúzcoa, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-28 Thermamex

London, United Kingdom

Theramex is a global specialty pharmaceutical company dedicated to women and their health. The Company markets a broad range of branded and branded generic products across 50 countries around the world. The portfolio, which is dedicated to women's health, focuses on contraception, fertility, menopause and osteoporosis and includes key brands such as Ovaleap®, Zoely®, Seasonique®, Actonel®, Estreva® and Lutenyl®. Thermamex is based in London, United Kingdom.

Buy -
SELLER

British Columbia Investment Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1999
PE ASSETS 21.9B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 3 of 4
Sector (Beverages) 1 of 1
Type (Secondary Buyout) 2 of 3
Country (Netherlands) 1 of 1
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-09 Pilot Freight Services

Glen Mills, Pennsylvania, United States

Pilot Freight Services is a transportation and logistics provider with over 75 locations throughout North America and Western Europe. The company’s freight forwarding services encompass every mode of transportation, including air, ground, and ocean, serving all corners of the globe. Pilot’s logistics programs offer a complete line of expedited and time-definite services, international shipping solutions, e-commerce, and home delivery solutions, product warehousing, and inventory management. Pilot Freight Services was founded in 1970 and is based in Glen Mills, Pennsylvania.

Sell $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 Reden Solar

Roquefort-sur-Soulzon, France

Reden Solar is an independent producer of renewable energy of photovoltaic origin, which focuses on the development, construction, and operation of photovoltaic power plants in France and abroad. Reden Solar operates PV power generation plants in France, Southern Europe, and Latam. Reden Solar was founded in 2008 and is based in Roquefort-sur-Soulzon, France.

Buy €2.5B